Amid the immense challenges and disruption spawned by the coronavirus pandemic, independent registered investment advisers (RIAs) are again proving their resiliency, correcting course as needed to position themselves for long-term growth, according to new FA Insight benchmarking research from TD Ameritrade Institutional.
Indeed, advisory firms reported record levels of productivity and asset growth in 2019 and attracted new clients at a steady rate. And though COVID-19 has ushered in an age of anxiety and uncertainty, strong operational foundations should serve firms well as they navigate new challenges, according to the 2020 FA Insight Study of Advisory Firms: Growth By Design.
“RIAs are getting creative about how they address the operational and business development challenges brought on by COVID-19,” said Vanessa Oligino, managing director of business performance solutions at TD Ameritrade Institutional. “It’s times like these that breed innovation,